Financial

Welcome to the Financial Division of the Oklahoma Insurance Department. The major functions of this division are:

Company licensing
Examinations
Financial analysis
Collection of premium taxes

This division is charged with the responsibility of monitoring the financial condition of all approved or licensed insurance companies or entities qualified to transact business in Oklahoma:

Domestic and Foreign Insurance Companies
Health Maintenance Organizations
Dental Organizations
Risk Retention Groups
Risk Purchasing Groups
Surplus Lines Companies
Pre-paid Funeral Trusts

Motor Service Clubs
Service Warranty Companies
Accredited Reinsurance Companies
Third Party Administrators
Professional Employer Organizations
Admission of New Companies

These entities are approved to transact business in Oklahoma within the guidelines of the Oklahoma insurance laws, rules and regulations. They are regulated to ensure that each will be able to meet its financial obligations to policyholders and creditors. Qualification is determined according to Title 36 of the Oklahoma Statues.

Other responsibilities include scheduling of examinations; deposits and withdrawals of securities; funeral home licensing; collection of premium tax from surplus lines transactions; risk retention and purchasing group applications and approvals; pre-paid dental and health maintenance organizations; and all the necessary correspondence and filing associated with each.

Staffing

The Division is staffed by 25 employees: a Deputy Commissioner of Finance, a Chief Examiner, a Chief Financial Analyst, five Financial Analysts, one Exam/Financial Coordinator, one Administrative Examiner, five Financial Specialists, one Accounting Assistant, one Administrative Assistant, one Chief Actuary, one Actuary, one Actuarial intern, one Market Regulation Manager, one Market Regulation Analyst, one Premium Tax Manager, one Premium Tax Accountant and one systems administrator. If your questions cannot be answered by the FAQ's below, please do not hesitate to contact us at (405) 521-3966.

Contact Information

We are located at:

5 Corporate Plaza
3625 N.W. 56th Street Ste. 100
Oklahoma City, OK 73112

Mailing Address Via Courier/Parcel:
Oklahoma Insurance Department
Financial Division – (Area or Person such as Premium Tax)
5 Corporate Plaza
3625 N.W. 56th Street Ste. 100
Oklahoma City, OK 73112

By Phone: (405) 521-3966

Frequently Asked Questions

Click Here to access the frequently asked questions about this topic.

Other Links

For insurance ratings: www.ambest.com
To connect directly with NAIC: www.naic.org
Oklahoma State Web site: www.ok.gov
Oklahoma Tax Commission: www.tax.ok.gov